EASTERN LIVESTOCK CO., LLC

Case Highlights

• Successfully identified millions of dollars of value in unrecorded and misidentified receivables and inventory
• Sold several thousand head of remaining cattle in less than two months after the petition
• Developed positive working relationships with all interested parties

Case Narrative

Eastern Livestock was among the largest cattle broker/dealers in the United States, with operations in eleven states throughout the Midwest, Mid-South and the West. The company was forced into receivership amid allegations that it had perpetrated a massive check-kiting scheme. DSI was appointed Receiver of Eastern Livestock by an Ohio court and, barely a month later, creditors filed an involuntary bankruptcy petition against the company along with a request that DSI be appointed as Interim Custodian in the bankruptcy. DSI concentrated on reconstructing the company’s books and records and developing working relationships with feed yards, industry groups, the USDA, creditors and other constituencies. DSI had also begun marketing efforts to sell the cattle by the time the involuntary petition was filed, efforts that were successfully continued once the bankruptcy was underway.